Half Year 2024 ANTA Sports Products Ltd Earnings Call - Sell Side & Buy Side (Chinese, English) Transcript
Key Points
- ANTA Sports Products Ltd (ANPDF) achieved double-digit growth for its major brands and over 40% growth for other brands.
- The company outperformed expectations in the first half, particularly in revenue and operating profit.
- ANTA Sports Products Ltd (ANPDF) has sufficient cash reserves and plans to execute a buyback of up to HKD 100 million in the next 18 months.
- The FILA brand showed strong performance with CNY 13.6 billion in total sales and a 70% growth rate.
- The company maintains a high operating margin for its outdoor brands, exceeding 30%.
- There are challenges in the KIDS market and some operational difficulties in the FUSION segment.
- The company faces pressure on operating margins in the second half of the year.
- Tier four franchisee shops have been underperforming due to price-sensitive customers.
- The FILA brand has been affected by downward trends in consumption, requiring operational adjustments.
- The overall basketball business has been declining, impacting the company's performance in this segment.
(audio in progress) that in terms of this challenging environment, we have achieved great results, which is not easy at all. Our major brands have enjoyed double digit growth -- very high level growth, and all other brands, the growth was more thatn 40%. Our leaders have shared some indicated with you. So -- has achieved high single digit growth. So [Suki] will now take us through some performance highlights with some detail, and then we'll go straight into Q&A.
Thank you, [Young] and Chris for the arrangement. Thank you very much, investors for participating in this telephone conference. I would like to share some major financial indicators with you and listen to your areas of concerns.
We have outperformed our expectation in the first half. First of all in relation to our revenue, we have gone beyond expectation, especially for ANTA. For ANTA -- revenue have been very strong because of the time lag in terms of wholesale business, we have also recovered B2B
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